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RE: How much of the rewards pool has been 'drained' by SteemSports?

in #steemit7 years ago

It is also worth pointing out that almost half of the rewards received have been re-distributed

To clarify, it means " % kept" part (compared to "% received") in above table. So about 50% is kept as a fee and this maybe what you refered as "absurd 50%". Personally, I havent seen any gamble that the house takes 50% yet, and even if I find one I never participate in it.

Steemsports seems to earn 253 MVESTS so far, which is around $20k and I think its innovative move quite deserve this amount. But I am against that steemsports keep having that high fees, combined with being upvoted by whale supporters, that can result in effective monetization of whales voting power.


No, by 50% I'm referring to peoples claims that steemsports takes 50% of daily rewards pool.
The 50% fee is the minimum allowed by the blockchain (as each post gets 50% in SP).

Also, SteemSports team collectively spent a lot more than $20k in man-hours so far, and we hadn't paid ourselves anything. Its all going towards marketing after the app is ready.

The 50% SP can be converted and distributed to developers, writers, and users in three months now. ($1500 per week given the current price). I really value writers and devs work on steemsports so want to see more proportion will go to them at the same time more benefit users as well.

I think it would be better to reinvest the funds for growth - acquiring customers from outside of Steemit. There are big sports/gaming markets out there that we could serve.

Thats good too. And I think that more players will come when steemsports distribute more rewards. This maybe the best marketing.

this is a great point, I have been thinking this all along, they can power it down and pay it out, hoarding the SP is "suspect" in my view

You can't forget the SP was on a 2 year lock in the beginning.. there was no alternative but to pay out the money received and hang on to the SP. Thats not a rake - that's forced savings.. and its an unrealized amount (could be worth nothing tomorrow). How would you do it differently?

Thats a fair statement a month ago. But given the shortened period, distributing SP is easier if the owner is willing to.

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